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Standard cost system-materials and labor variances
The Hemlock Corporation produces a single product. The company has developed the following standards for labor and materials:
During the past month, the company purchased 3,500 pounds of direct materials at a total cost of $4,550. All of this material was used in the production of 1,300 units of output. Direct labor cost totaled $40,300 for the month. The following variances have been computed:
Compute the following. If the result is a variance indicate whether it is favorable or unfavorable.
(a) The standard price of materials. _________________.
(b) The standard quantity of materials allowed per unit of output _________.
(c) The actual direct labor cost per hour for the month. _____________.
(d) The labor rate variance. ______________________.
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The influence of genetics on an individual's traits, behaviors, or the likelihood of developing certain diseases, indicating how much genes play a role in these aspects.
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Numerical measures obtained from cognitive tests that aim to quantify an individual's level of intellectual ability or intelligence.
Biological Relatives
These are individuals who are related by blood, sharing common ancestors or genetic material, such as parents, siblings, and offspring.
Fraternal Twins
Siblings born at the same time from two different eggs fertilized by two different sperm, genetically similar as ordinary siblings.
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